Qatar Telecom (Qtel) has posted an 11.6% rise in annual net profits, reporting a consolidated figure of QAR2.6 billion (USD699 million) in 2011 across its operations in 16 countries in the Middle East and North African (MENA) region and Asia. Driving the profit increase, the group’s revenues rose by 16% in the year to QAR31.8 billion as its consolidated customer base (which includes 13 of the markets in which Qtel has a presence) expanded by 12.5% to 83.4 million at the end of December 2011, compared to 74.1 million twelve months earlier, with the majority of subscribers using mobile services.
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OVETEL Qtel consolidated profit up 11.6%
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